CGN Laos’ 1 GW solar PV project: The China General Nuclear Power Group (CGN) has signed a concession agreement from the Government of Laos for phase I of its GW-scale solar PV project. Located in Oudomxay Province, the 1 GW PV capacity will form phase I of the Northern Laos Interconnection Clean Energy Base Project in Vientiane. It is planned to be the 1st large-scale solar PV benchmark project in the country. For CGN, the Northern Laos Interconnection Clean Energy Base Project is a key part of the Belt and Road initiative. It will be spread across 3 provinces of Oudomxay, Phongsali and Luang Namtha in Northern Laos, and will comprise an integrated base of wind, solar, hydro and storage technologies.
Telstra signs solar offtake contract: Australian telecommunications company Telstra Group has signed a power purchase agreement (PPA) to offtake electricity from the 260 MW Glenellen Solar Farm in New South Wales (NSW). It will procure 50% of the electricity to be generated by the project or 120 GWh annually. The project is owned by Global Power Generation Australia, the Australian subsidiary of Global Power Generation (GPG). This happens to be Telstra’s 7th PPA, taking the total value of the Australian renewable energy generation projects it supports to over AUD 1.4 billion ($951 million).
Support for RE in Solomon Islands: The Asian Development Bank (ADB) and the Government of Solomon Islands are joining other partners for a new project to help the region transition to renewable energy. The renewable energy project will finance new solar farms in Guadalcanal and Malaita province, along with a new utility-scale grid-connected energy storage system in Honiara. It will pilot a business model for rooftop solar systems at 2 regional schools and also support power sector reforms, including the identification and preparation of at least 1 private sector renewable energy project. Accelerating progress in gender equality, tackling climate change, and fostering climate and disaster resilience are the other aspects being backed by the partnership. The project is funded by a $10 million concessional loan and a $5 million grant from the ADB’s Asian Development Fun, while the Saudi Fund for Development (SFD) and Solomon Power are providing $10 million each. The Solomon Islands government is providing $7 million in exempted duties and taxes.
Virtual PPA in Japan: J-Power or Electric Power Development’s wholly-owned subsidiary J-Solar has signed a virtual PPA with Tokyo Metro in Japan. This VPPA enables a consumer to procure only the environmental attributes of renewable energy generated from a power plant constructed offsite. In this case, the project in question is the 1.99 MW Himeji Oshio Solar Power Station. Tokyo Metro will receive the environmental value with additionality equivalent to about 3.9 million kWh of energy generated annually as non-fossil certificates for 20 years. It will enable the company to lower its carbon emissions by about 1,521 t-CO2 annually. This is in line with Tokyo Metro’s target to reduce its carbon emissions from all of its operations by 50% by FY 2030, compared with FY 2013, and achieve zero emissions by FY 2050.
Clime Capital invests in solar in the Philippines: Singapore-based fund manager Clime Capital is investing in Upgrade Energy Philippines (UGEP), a solar energy company. Through its South East Clean Energy Fund II (SEACEF II), it can invest up to $10 million in UGEP. The latter will use the financial support to accelerate the deployment of solar energy projects, including to those designed for internal consumption by commercial and industrial (C&I) customers, as well as utility-scale projects designed to dispatch clean energy to the electrical grid. By the end of 2024, UGEP is set to surpass 50 MW of cumulative C&I installed solar capacity.
100 MW AIKO modules in South Korea: Chinese solar PV manufacturer AIKO has officially reached a strategic cooperation agreement with South Korea’s SDN to supply 100 MW of n-type ABC high-efficiency modules for the Korean market. The mass production efficiency of AIKO’s n-type ABC modules stands at 24.2% with which it has led the global commercial module efficiency products on the TaiyangNews Top Solar Modules List for months now (see TOP SOLAR MODULES Listing—August 2024).
.png?w=50&fm=png){kind=logo}